TEAMWAY INTL GP (01239) announced on December 10, 2025, that the company has entered into a subscription agreement with Shenghai International Industrial Investment Pte. Ltd. Under the agreement, the subscriber conditionally agreed to subscribe for, and the company conditionally agreed to issue, a total of 39,456,200 subscription shares at HK$0.341 per share.
The subscription shares represent approximately 10.00% of the company's existing issued share capital as of the announcement date and about 9.09% of the enlarged issued share capital post-subscription (assuming no other changes in share capital from the announcement date to completion).
After deducting related expenses, the net proceeds from the share placement are estimated at approximately HK$13.4 million, which will be used for the group's general working capital.
The subscription price of HK$0.341 per share was determined through fair negotiations between the company and the subscriber, taking into account the current market price of the shares and the group's prospects. This price represents an 8.25% premium over the closing price of HK$0.315 per share on the Hong Kong Stock Exchange on the subscription agreement date, and a 10.00% premium over the average closing price of HK$0.310 per share over the five consecutive trading days prior to the agreement date.
The board believes the share placement presents an opportunity to further strengthen capital, expand the shareholder base, enhance share liquidity, and improve the group's financial position. Additionally, the board considers this method preferable to other equity financing options in terms of time and cost efficiency.
Shenghai International Industrial Investment Pte. Ltd., the subscriber, is an investment holding company incorporated in Singapore. As of the announcement date, it is wholly owned by Chinese businessman Mr. Zhang Hong.
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